Preconstruction work is finished on Buckhead Atlanta on Peachtree Road, a project which has been a long time coming for the community.

“I can’t remember a period of crane activity that has ever caused as much anxiety as the stages undergone here,” said Buckhead Coalition President Sam Massell.

The development, which was initially owned by Buckhead-based Ben Carter Properties and called Streets of Buckhead, broke ground in 2007 but stalled in 2009 when the economy soured. It is now owned by San Diego-based OliverMcMillan, which resumed construction in August. The project is expected to be completed the spring or summer of 2014.

The completed project will encompass 1.5 million square feet, with 300,000 square feet of upscale restaurants and cafés and retail stores. Additionally, it will boast 370 luxury high-rise residences and almost 100,000 square feet of office space.

“This next phase of construction is in keeping with our construction schedule,” OliverMcMillan Managing Director of Development Hunter Richardson said in a news release. “It is another milestone in our progress toward creating a district that we will all enjoy and be proud of.”

Parcel A of the project, which will feature street-level shops and restaurants, as well as the office space two levels above, according to the news release, is starting to show more visibility above construction fencing along Peachtree and Pharr roads.

“Because of the magnitude of stores, this will become an entirely new shopping destination, as contrasted to a strip-style development that might generate mostly impulse buying,” Massell said. “The customer here will find such diversification, he or she will be likely to arrive with a list and leave with a load, having also dined and been entertained at a multitude of options.”

Construction of Parcel C of Buckhead Atlanta, which went vertical in November, will include luxury retailer Hermes as the anchor business on Bolling Way, as well as “two upscale multifamily towers,” according to the news release.

“We will also have the excitement of getting acquainted with names of merchants new to our area,” Massell said. “Thus we will welcome a win-win program, compliments of OliverMcMillan.”

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